Playing with a swagger, they led 2-0 and should have been out of sight such was their dominance against lowly Queens Park Rangers. This should have been a night about an unlikely hero after defender Sebastian Coates opened his Anfield account with a stunning acrobatic volley.

This should have been a tale about how his fellow countryman Luis Suarez mercilessly terrorised a team heading towards relegation. And how the Reds maintained momentum following back-to-back wins.

Yet from the jaws of victory they somehow managed to grab a galling defeat.

Out of nowhere the Reds’ backbone deserted them. Suddenly, they morphed into the team who meekly surrendered at places like Tottenham, Bolton and Sunderland.

It wasn’t just careless, it was embarrassing as first Shaun Derry pulled one back and then former Reds striker Djibril Cisse nodded them level. The defending was shambolic.

Then in stoppage time the nightmare was complete as Jose Enrique ’s horrific blunder gifted Jamie Mackie the chance to slot the winner past Pepe Reina.

It was the first time Liverpool had lost after being two goals ahead in a league game since Leeds beat them 4-3 in 2000.

Cup success can’t mask the fact that the Reds’ league form has been unacceptable. They have won just three out of 13 games since mid-December and are a massive 13 points off the fourth spot they targeted last August. Liverpool have repeatedly failed to kill teams off and this was another one for their collection.

Early on they had threatened to run riot. Their passing and movement carved QPR open almost at will but a finishing touch deserted them.

Dalglish’s side should have led inside four minutes. Suarez ran clear and had time to pick his spot but fired too close to keeper Paddy Kenny.

Martin Skrtel then saw his goal-bound header from Stewart Downing’s corner blocked by Joey Barton. Steven Gerrard pulled the strings with Dirk Kuyt and Downing getting forward in support of Suarez.

Downing burst through but dallied and allowed Shaun Derry to get back and make a last-ditch tackle.

QPR struggled to get out of their own half and the home fans’ frustration continued to grow.

Remarkably, the Reds forced 10 corners in the opening 20 minutes but none were made to count.

One Gerrard delivery was met by Suarez but his header was blocked and Kuyt was denied from the rebound.

A combination of injuries and suspensions have severely limited the amount of time Gerrard and Suarez have played together.

But the growing understanding which ripped Everton shreds in the derby was once again evident.

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The duo sliced through an overworked back four with a slick one-two but the captain’s inviting cross just evaded Kuyt.

Unsurprisingly, the Reds couldn’t maintain such a relentless pace and the intensity dropped off.

QPR grew in confidence with a familiar face posing their greatest threat. Cisse had warned his old club he would show them “no mercy” and the Frenchman looked like a man with a point to prove.

Shown the door by Rafa Benitez after just two seasons at Anfield in which he won the Champions League and the FA Cup, Cisse returned to the Premier League in January after making the switch from Lazio.

Cisse’s glaring lack of tactical awareness infuriated Benitez but there’s no question he’s blessed with lightning pace and a blistering shot and he rippled the side netting from 25 yards.

The Reds’ hopes of regaining some momentum wasn’t helped by two injury blows before the break.

Martin Kelly limped off with Coates coming on and Jamie Carragher moving to right-back.

To add to Dalglish’s problems Charlie Adam then went down in a heap after a crunching 50-50 challenge with Armand Traore. The Scot immediately gestured to the bench and didn’t re-emerge for the second half with Jordan Henderson replacing him.

Liverpool regained control and nine minutes into the second half the deadlock was broken.

After Gerrard’s corner was fired goalwards by Downing, Bobby Zamora was on hand to hack off the line. It looped up towards the penalty spot where Coates dispatched a volley which flew past Kenny and into the roof of the net.

Energised by the breakthrough, the Reds turned the screw. Suarez and Kuyt combined brilliantly to put Downing through only for Kenny to parry behind.

The chances kept coming and in the 72nd minute they doubled their tally. Suarez twisted and turned his way past a couple of defenders before firing against the post.

Kenny parried Downing’s strike on the follow-up but Kuyt, who was making his 200th league appearance, was alert to tuck it away from close range.

A QPR side with only one win in 16 league games going back to November were on the ropes. Yet instead of delivering a killer blow, Liverpool capitulated.

Derry halved the deficit when he climbed above Henderson to head home Adel Taarabt’s corner.

Then with four minutes to go Taye Taiwo crossed from the left and Cisse stole in between Martin Skrtel and Enrique to head past Reina. Just as the 3,000 packed into the away end were pondering how the Reds had only been left with a point even that was wrestled away.

There appeared to be little danger when Skrtel’s attempted clearance was nodded back by Luke Young. But Enrique made a hash of it and Mackie completed a dramatic comeback.

A delirious Mark Hughes could hardly believe his luck. A struggling side beaten at home by the likes of Bolton, Sunderland, Norwich, Wolves and Fulham had a major scalp. Liverpool just keep handing out gifts.